Italian journalist Longo reported that Teo will reject the invitation from Riyadh Crescent.
Longo said: "Teo is about to make a final rejection of Riyadh Crescent, and the Saudi club will accelerate its pursuit of Angelino."
27-year-old Teo's contract with Milan will expire in 2026. According to previous news, he has no intention of playing football in Saudi Arabia at this stage of his career.